1 00:00:49,56 --> 00:00:49,95 NASH 2 00:01:05,15 --> 00:01:08,89 It wasn't so long ago in the history of man boys thought a better world 3 00:01:09,97 --> 00:01:13,46 that ships were carrying eager passengers to the shores of a new nation 4 00:01:13,46 --> 00:01:18,94 that was just in the building our book others were constructing the foundation of 5 00:01:18,94 --> 00:01:23,46 the nation by interlocking inseparably the blocks of our political 6 00:01:23,46 --> 00:01:46,56 and economic freedom. 7 00:01:53,29 --> 00:01:54,18 The way of life. Bob 8 00:01:54,18 --> 00:01:59,04 or bother to DAB least on this bomb they feel afraid of the people from the far 9 00:01:59,04 --> 00:02:02,17 corners of the earth. And all those who said. 10 00:02:02,23 --> 00:02:05,42 But on the shores had the opportunity to build a better life for themselves. 11 00:02:07,74 --> 00:02:08,71 Even young Jonathan 12 00:02:08,71 --> 00:02:13,66 and I'm still glad from across the city hope to find a job where you can progress 13 00:02:13,66 --> 00:02:15,11 according to his ability 14 00:02:15,11 --> 00:02:21,26 and enterprise. 15 00:02:27,80 --> 00:02:28,89 As the years passed. 16 00:02:29,79 --> 00:02:31,43 Jonathan's earnings increase 17 00:02:32,83 --> 00:02:39,53 but he still felt the for a man of his skill it was about time for another ray. 18 00:02:41,86 --> 00:02:42,93 Mr Black great. 19 00:02:43,02 --> 00:02:45,92 I am I not but I scrounge around her and bring for him 20 00:02:45,92 --> 00:02:51,14 or any business Bareilly me thinks I am worth more money 21 00:02:51,90 --> 00:02:55,34 that you are not up or no. 22 00:02:58,69 --> 00:03:02,42 I'm glad you know raised gravy. 23 00:03:02,71 --> 00:03:06,85 I quit sales and crop 24 00:03:06,85 --> 00:03:12,67 and now like I really need business better myself. Why not my own business. 25 00:03:13,05 --> 00:03:19,53 Now you need a little capital a little boy an idea. Here. 26 00:03:19,55 --> 00:03:24,35 The average buy there is maybe five good 27 00:03:25,77 --> 00:03:27,32 and mad at my grandpa. 28 00:03:29,20 --> 00:03:32,41 Why not women the day 29 00:03:39,20 --> 00:03:43,47 fortunately Jonathan was Christiana to keep a little nest egg for such an emergency. 30 00:03:48,05 --> 00:03:50,35 While the cost of the building took out the nest egg 31 00:03:52,31 --> 00:03:54,46 and there was nothing left of A but the necessary tools 32 00:03:54,46 --> 00:03:59,95 and equipment happily just. 33 00:04:00,00 --> 00:04:01,83 Had a good reputation. 34 00:04:01,85 --> 00:04:05,49 And as his idea a promise to profit is friends 35 00:04:05,49 --> 00:04:07,94 and neighbors were willing to invest some of their savings 36 00:04:07,94 --> 00:04:24,03 and his new business in 37 00:04:24,04 --> 00:04:28,03 the nick of time an enterprising chap filled up with the raw materials to make 38 00:04:28,03 --> 00:04:30,90 that long. 39 00:04:30,99 --> 00:04:33,95 Jonathan with the first 40 00:04:40,39 --> 00:04:47,14 lady as an expert salesman 41 00:04:47,14 --> 00:04:49,55 Jonathan demonstrated the superior style 42 00:04:49,55 --> 00:04:56,28 and quality of a price for his creation of 43 00:04:56,28 --> 00:04:57,79 the consumer was willing to pay 44 00:04:58,78 --> 00:05:02,44 and sales dollars from satisfied customers 45 00:05:05,76 --> 00:05:11,16 and had big dreams of the wonderful rewards of being in business for Ansel But 46 00:05:11,17 --> 00:05:15,67 before he could buy what he wanted his employees wages had to be paid 47 00:05:18,16 --> 00:05:18,83 to pay taxes 48 00:05:24,11 --> 00:05:27,54 and his friends who helped finance the business had to be made a return on their 49 00:05:27,54 --> 00:05:30,84 investment and all of his bills were paid. 50 00:05:32,14 --> 00:05:36,57 Jonathan had to exchange his big dreams for a little break. 51 00:06:02,97 --> 00:06:07,21 I mean competition Jonathan had the blood of his products back into the business to 52 00:06:07,21 --> 00:06:13,96 develop a better have its customers approve the quality style 53 00:06:14,75 --> 00:06:16,82 and price of Jonathan's new designs. 54 00:06:16,93 --> 00:06:23,84 It still could make its dreams come true with the passing years 55 00:06:24,56 --> 00:06:29,54 this strong foundation of freedoms protected the dignity of the individual 56 00:06:29,54 --> 00:06:33,57 and his family gave everyone the right to worship as he pleased 57 00:06:35,24 --> 00:06:36,98 and promised anyone with ability 58 00:06:36,98 --> 00:06:41,86 and enterprise the opportunity to participate in the building of the American way 59 00:06:41,86 --> 00:06:46,75 of life as we know it today a way of life 60 00:06:46,75 --> 00:06:50,56 that depends upon millions of brave the Americans who send a portion of their 61 00:06:50,56 --> 00:06:53,10 savings to work in our businesses each year. 62 00:06:57,03 --> 00:07:03,39 People from all walks of life workers farmers out all of 63 00:07:03,39 --> 00:07:08,29 us and our dollars to work in our businesses in the hope of earning dividends 64 00:07:09,10 --> 00:07:10,01 or interest on our investment 65 00:07:21,13 --> 00:07:25,58 anyone who has an insurance policy a bank to buy the share of stock is helping to 66 00:07:25,58 --> 00:07:30,67 finance our businesses a constant stream of savings dollars must flow into big 67 00:07:30,67 --> 00:07:31,99 and small business each year. 68 00:07:33,34 --> 00:07:39,06 These dollars help to buy the land the building the tools 69 00:07:39,06 --> 00:07:39,41 and equipment 70 00:07:40,42 --> 00:07:46,82 and create new job opportunities by our expanding population the goods we produce 71 00:07:46,82 --> 00:07:53,68 distributed the main streets all over the country while the 72 00:07:53,68 --> 00:07:57,38 main street of the day doesn't look much like the main street of John of the time 73 00:07:57,38 --> 00:07:59,95 the principles of our business system remain. 74 00:08:00,00 --> 00:08:02,79 The same a businessman still compete with one another 75 00:08:02,79 --> 00:08:05,35 but the consumers supply of spendable dollars 76 00:08:06,56 --> 00:08:11,47 and Mrs consumer is still mighty critical of everything she buys. 77 00:08:12,48 --> 00:08:25,28 Up all competition. 78 00:08:32,59 --> 00:08:37,71 The management of every business has a continuing problem to improve the product to 79 00:08:37,71 --> 00:08:40,45 stay ahead of competition or else. 80 00:08:59,61 --> 00:09:01,76 The game in this is that quick kill got the ball. 81 00:09:01,84 --> 00:09:03,20 We've got to get it back getting 82 00:09:03,20 --> 00:09:06,96 that new product play more style better quality new features 83 00:09:06,96 --> 00:09:08,93 and at the right price at the line man. 84 00:09:09,16 --> 00:09:15,48 Let's go micrometer brand 85 00:09:17,05 --> 00:09:22,28 filed a leopard. Slide rule. 86 00:09:23,19 --> 00:09:27,84 In addition to creating a better product management develop new tools 87 00:09:27,84 --> 00:09:32,89 and more efficient methods to help workers turn out mall boxes go at a price. 88 00:09:33,10 --> 00:09:34,26 Mrs consumer will pay. 89 00:10:00,00 --> 00:10:02,04 You bitches about this better product or I 90 00:10:02,04 --> 00:10:04,92 but I point out it's competitive advantage 91 00:10:12,02 --> 00:10:12,96 to me 92 00:10:13,96 --> 00:10:20,57 but plenty of room to go during the loading the moment I think I'm a pretty well 93 00:10:20,58 --> 00:10:26,06 sucker No and I told them I saw your life 94 00:10:26,96 --> 00:10:33,67 when I was annexed the banks all over the place to live out of my head 95 00:10:33,67 --> 00:10:34,59 I don't agree 96 00:10:36,19 --> 00:10:42,35 or do you know I love my. 97 00:10:42,37 --> 00:10:43,20 Yes dear lady. 98 00:10:43,67 --> 00:10:49,86 Perma freezes kind of refrigerator high high quality at a low 99 00:10:49,86 --> 00:10:56,61 low price Dale dollars from satisfied customers once again go back 100 00:10:56,61 --> 00:11:03,28 to primary a successful business must have enough sales dollars coming in to enable 101 00:11:03,28 --> 00:11:07,43 management to pay the expenses of doing business such as salaries 102 00:11:07,43 --> 00:11:11,88 and wages materials and supplies research 103 00:11:11,89 --> 00:11:15,19 and product development plans make notes and repair. 104 00:11:16,92 --> 00:11:22,48 In addition to all of these bells management has to pay taxes to local state 105 00:11:22,48 --> 00:11:28,31 and federal governments any money that's left over is known as property wise 106 00:11:28,32 --> 00:11:34,68 management plows part of it back into the business the remainder of the problem is 107 00:11:34,69 --> 00:11:35,59 paid out as dividends 108 00:11:44,98 --> 00:11:46,32 these dividends are sent back 109 00:11:47,05 --> 00:11:52,75 when vested as a reward by risking their savings in the American business system 110 00:11:54,20 --> 00:11:59,95 although occasionally some of us take a lemon after take a lot of the car. 111 00:12:00,00 --> 00:12:02,85 There's investment of our savings through good times 112 00:12:02,85 --> 00:12:08,34 and bad as enabled our competitive business system to continue to increase the 113 00:12:08,34 --> 00:12:09,46 production of more 114 00:12:09,46 --> 00:12:14,28 and better good to meet the demands of our rising population for a better standard 115 00:12:14,28 --> 00:12:17,46 of living for example. 116 00:12:17,48 --> 00:12:20,11 It was only a little more than half a century ago 117 00:12:21,06 --> 00:12:25,52 that the average worker had only in addition to helping turn out a product 118 00:12:28,97 --> 00:12:35,24 low production meant low wages one thousand nine hundred many men had to work ten 119 00:12:35,24 --> 00:12:42,20 hours a day six days a week were enough money to provide their families with 120 00:12:42,20 --> 00:12:42,56 the bare essentials 121 00:12:45,00 --> 00:12:51,16 and labor was the rule in the home as well as the fact in many families the 122 00:12:51,16 --> 00:12:54,94 youngsters had to work to add their earnings to the band aid budget 123 00:12:54,94 --> 00:12:57,51 and forego the opportunity to get an education 124 00:12:59,50 --> 00:13:03,33 and with most families in those days the standard of living left much to be desired. 125 00:13:07,01 --> 00:13:11,80 I half century later we had invested enough in our business system to provide the 126 00:13:11,80 --> 00:13:14,38 average worker with the fish and an expensive buildings 127 00:13:14,38 --> 00:13:20,23 and machinery to enable him to produce enough in a body hour we weren't twice as 128 00:13:20,23 --> 00:13:25,72 much as in one thousand nine hundred worker earned in a sixty hour week shorter 129 00:13:25,72 --> 00:13:26,02 work week. 130 00:13:26,27 --> 00:13:31,92 If that's all i'm only to time to enjoy a standard of living beyond the wildest 131 00:13:31,92 --> 00:13:34,17 dreams of anyone to live the half century ago. 132 00:13:35,25 --> 00:13:41,77 All we are now are damn Lees have to send the things they need young people today 133 00:13:41,77 --> 00:13:43,26 have leisure time for fun 134 00:13:43,95 --> 00:13:46,99 and enjoy educational opportunities denied their fathers 135 00:13:46,99 --> 00:13:53,03 and grandfathers. 136 00:13:55,18 --> 00:13:59,15 And fortunately we have been able to raise our standard of living. 137 00:14:00,00 --> 00:14:04,08 Without sacrificing the spiritual side of life which means so much to the American 138 00:14:04,08 --> 00:14:06,75 family. 139 00:14:06,77 --> 00:14:12,89 I business has continued to provide a better life for our increasing population in 140 00:14:12,90 --> 00:14:17,08 spite of destructive forces which have found that against our foundation. 141 00:14:17,27 --> 00:14:23,16 We didn't know there was the brunt of wars 142 00:14:23,16 --> 00:14:26,25 interrupt the normal operations about competitive 143 00:14:32,44 --> 00:14:36,18 and may result in government controls which cracked essential blocks 144 00:14:36,18 --> 00:14:42,86 and the foundation of freedom in World War two wages were controlled 145 00:14:46,43 --> 00:14:51,18 many workers were frozen to their jobs farm prices were controlled 146 00:14:53,74 --> 00:15:00,69 and profits of business were limited raw materials were allocated between essential 147 00:15:00,69 --> 00:15:07,56 and non-essential business on Main Street USA Many of us found less 148 00:15:07,56 --> 00:15:10,67 to buy because a good portion of our productive about 149 00:15:10,67 --> 00:15:14,15 that they went to the war effort prices were picks. 150 00:15:15,44 --> 00:15:20,94 And the available supply of goods was rationed in war emergencies we allow 151 00:15:20,94 --> 00:15:23,15 government to respect certain about freedom 152 00:15:24,22 --> 00:15:28,03 but we Americans have learned to remove government controls as quickly as possible 153 00:15:29,30 --> 00:15:32,26 and to repair the blocks in the bondage and of our freedoms. 154 00:15:33,28 --> 00:15:40,20 Well our business system to resume its normal operation while we invest part of our 155 00:15:40,20 --> 00:15:45,42 savings to have been at the world's most efficient businesses at the same time we 156 00:15:45,42 --> 00:15:50,41 pay taxes to government to finance many kinds of services which also contribute to 157 00:15:50,41 --> 00:15:57,19 our way of life for example our taxes must provide 158 00:15:57,19 --> 00:15:59,94 the necessary funds to improve and expand. 159 00:16:00,00 --> 00:16:06,81 Schools that I've acted must be sufficient to pay but that is free help. 160 00:16:07,22 --> 00:16:09,50 Fire and police protection 161 00:16:10,77 --> 00:16:17,47 and of course aid to the needy the 162 00:16:17,48 --> 00:16:24,17 new i state taxes help paper highway educational institutions 163 00:16:25,84 --> 00:16:29,69 and among other things help to pronounce important experiments to increase the 164 00:16:29,69 --> 00:16:36,38 product delivery of our farms our federal taxes paid 165 00:16:36,39 --> 00:16:38,69 for irrigation and reclamation projects 166 00:16:40,04 --> 00:16:45,68 when I still park my mobile services. 167 00:16:46,61 --> 00:16:47,98 The weather bureau and many others 168 00:16:47,98 --> 00:16:52,63 that are taxes have to pay for the enormous cost of past wars 169 00:16:53,53 --> 00:16:57,91 and provide the funds for the best program which will ensure the safety of our 170 00:16:57,91 --> 00:16:58,37 country. 171 00:16:59,53 --> 00:17:03,55 In addition all of us should be willing to pay whatever taxes are necessary 172 00:17:03,55 --> 00:17:08,64 when able efficient government to improve or expand any essential services 173 00:17:10,17 --> 00:17:14,91 but with our present tax load we should avoid pressuring government for any new 174 00:17:14,91 --> 00:17:15,37 services 175 00:17:15,37 --> 00:17:21,80 that are absolutely necessary because we all know the more our government provides 176 00:17:22,73 --> 00:17:24,55 the more tax the force to collect 177 00:17:32,64 --> 00:17:34,57 none of us going to fix things. 178 00:17:40,03 --> 00:17:46,26 Now on the farm and. 179 00:17:52,52 --> 00:17:59,13 Words of wild 180 00:17:59,13 --> 00:18:00,70 and all of us have. The pay R.J. 181 00:18:04,04 --> 00:18:04,77 Demanding more 182 00:18:04,77 --> 00:18:10,03 and more from government could create a tax burden having enough to crack a central 183 00:18:10,03 --> 00:18:11,99 block in the foundation of our business 184 00:18:11,99 --> 00:18:18,96 and therefore we shouldn't let our taxes reach a point where they destroy 185 00:18:18,96 --> 00:18:20,60 our ability to save and 186 00:18:20,60 --> 00:18:26,77 that our lives we have seen are rising standard of living depends upon a constant 187 00:18:26,77 --> 00:18:30,04 flow of savings dollars into our businesses to meet here 188 00:18:39,59 --> 00:18:44,91 in the future of our country waves of destructive forces will continue to batter 189 00:18:44,91 --> 00:18:45,97 against our foundation. 190 00:18:47,66 --> 00:18:50,67 When any point weakens the interlock blocks of our political 191 00:18:50,67 --> 00:18:56,25 and economic freedoms as good citizens we must be quick to use the tools our 192 00:18:56,25 --> 00:18:59,35 Constitution gives us and repair any cracks 193 00:18:59,35 --> 00:19:05,71 that may appear as long as we keep the foundation of our business system strong. 194 00:19:06,99 --> 00:19:11,89 We will be able to maintain and improve the way of life our or Fathers conceived 195 00:19:11,89 --> 00:19:17,61 and establish a way of life which gave everyone who came to this country a chance 196 00:19:17,61 --> 00:19:19,47 to progress according to his ability 197 00:19:19,47 --> 00:19:25,36 and then run like the youth of yesterday the young people of today deserve the same 198 00:19:25,36 --> 00:19:31,06 opportunity to earn success in the competition and on this foundation of breed 199 00:19:31,06 --> 00:19:33,91 and continue to build a better life for themselves 200 00:19:35,33 --> 00:19:38,21 and their fellow man in the world of tomorrow.